In continuation with the positive growth exhibited by exports for the last twelve months, India's exports recorded a double digit growth of 10.29 per cent to USD 23.81 billion during August 2017 mainly on account of rise in shipments of chemicals, petroleum and engineering products. According to the data released by the commerce ministry today,exports have shown growth of 10.29 per cent valued at USD 23818.83 million as compared to USD 21597.09 million during August, 2016. Imports too rose by 21.02 per cent to USD 35.46 billion in August from USD 29.3 billion in the year-ago month. However, trade deficit widened to USD 11.64 billion in the month under review from USD 7.7 billion in August 2016, due to increase in gold imports that rose by about 69 per cent to USD 1.88 billion last month. Imports during August 2017 were valued at US $ 35462.79 million which was 21.02 per cent higher over the level of imports valued at US $ 29303.20 million in August, 2016. Cumulative value of imports for the period April-August 2017-18 was US $ 181719.50 million as against US $ 143500.87 million registering a positive growth of 26.63 per cent over the same period last year.
News On AIR | September 16, 2017 1:28 AM
Exports rise 10.29% in August; trade deficit widens to $11.64 billion